After Hatay earthquake, housing prices in Edirne skyrocket

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EDIRNE HOUSE PRICES AFTER EARTHQUAKE

Following the earthquakes centered in Kahramanmaraş that shook Turkey, migration to Edirne, a fourth-degree earthquake zone, increased significantly, leading to a shortage of rental properties in the city. Real estate agents have shared the following insights on the matter:

“Especially due to the earthquake, there is a significant shortage in rental properties, causing rental prices to increase substantially. The reason for this increase is the high demand coupled with a limited supply of apartments. For example, if you look at 1+1 apartments today, they are not available for less than 5,000 Turkish Lira. This is not at all normal. They are quoting 5,000 to 6,000 Turkish Lira for a 50-square-meter apartment. This abnormal situation is a result of the current lack of available apartments. Currently, we have no apartments available for rent.”

Following the earthquakes that occurred on February 6 in Kahramanmaraş, affecting 11 provinces, some residents in the region chose to migrate to earthquake-resistant areas. Approximately 5,000 earthquake victims, primarily from Kahramanmaraş and Hatay, as well as Adıyaman, Malatya, and Gaziantep, which are also fourth-degree earthquake-resistant regions, moved to Edirne. Alongside earthquake victims, individuals from Istanbul and other regions with a first-degree earthquake risk also relocated to Edirne. Edirne, with a central population of 191,470 and around 85,000 houses and 20,000 businesses, now faces an impossible situation when it comes to finding rental properties. Those looking to rent, including public officials and military personnel transferring to Edirne, are struggling to find available homes. Renters already living in the city are complaining about prices reaching up to 15,000 Turkish Lira.

“When there is a shortage of apartments, landlords increase prices. Consequently, rental prices have surged. For instance, today, 1+1 apartments are not available for less than 5,000 Turkish Lira. This is not normal at all. We are talking about a 50-square-meter apartment here. They are quoting 5,000 to 6,000 Turkish Lira for a 50-square-meter apartment. Obviously, this is not normal. It is a result of the current lack of available apartments. Right now, there are no apartments available for rent. When someone is transferred to the city, they cannot find an apartment.”

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